Chapter 80: Economic Aspects of Cultural Heritage

Leah Greden Mathews

Economic aspects of cultural heritage Cultural heritage is universal in that every culture has a heritage, but that heritage is unique to each culture or community. A building that may be slated for replacement in one region because it is mundane or out of date may be revered in another due to the cultural meaning attached to the building's heritage. As a result, different preferences for cultural goods arise from the differences in culture. In addition, one rarely hears that we have “too much” cultural heritage; more heritage is universally desired, but protecting and creating cultural heritage is costly. Thus, there are many reasons for the study of the economics aspects of cultural heritage, including a desire to study the values that people have for cultural heritage as well as to inform the efficient management of cultural heritage assets. The economics of cultural heritage is, like many applied economic fields, ...

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